The acquisition was an all-cash transaction using existing cash and new debt
Cardinal Health has announced the completion of the acquisition of The Harvard Drug Group (THDG). A distributor of generic pharmaceuticals, over-the-counter medications and related products to retail, institutional and alternate care customers, THDG was owned by Court Square Capital Partners. The $1.115 billion acquisition was an all-cash transaction using existing cash and new debt.
The Harvard Drug Group had revenues of approximately $450 million in 2014. There are 450 employees and two distribution facilities included in the transaction.
In addition to enhancing the company's generic pharmaceutical distribution business, the acquisition expands Cardinal Health's existing telesales programs and capabilities; broadens the company's portfolio of over-the counter pharmaceutical products; and brings specialized packaging offerings to meet the needs of hospital systems and other institutions.